Our god-son is purchasing a house that has just been built in Marsden with a mortgage from RBS. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I just bought a property at auction in Marsden. Conveyancing is needed. What are my next steps?
Having legally committed yourself to purchase you now have to choose a conveyancing solicitor soon as you will have a fast approaching deadline in which to complete the purchase. Every auction property will ordinarily have an associated auction set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must give this to the lawyer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
We have agreed to purchase a house in Marsden. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Virgin Money your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease does not meet these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Marsden.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Marsden solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Marsden surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Me and my brother purchased a renovated Georgian house in Marsden. Conveyancing lawyer acted for me and TSB. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Marsden and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing lawyer who carried out the work.
How does conveyancing in Marsden differ for newly converted properties?
Most buyers of new build property in Marsden contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Marsden typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Marsden or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Marsden before instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders may refuse to grant a loan on such a house.
It varies from the lender to lender. Santander has different requirements from Halifax. If you e-mail us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Marsden. Conveyancing will be smoother if you use a solicitor in Marsden especially if they are accustomed to such properties in Marsden.
I need to instruct a conveyancing practitioner in Marsden for my house move. Is it possible to review a solicitor's complaints history with the profession’s regulator?
One may read presented Solicitor Regulator Association (SRA) determinations resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator may recorded call for training requirements.